FII bought 9.6 K contract of Index Future worth 921 cores, Net OI has increased by 5.2 K contract 7.4 K Long contract were added by FII and 2.1 K Shorts were covered by FII. Net FII Long Short ratio at 1.24 so FII used rise to enter long and exit short in Index Futures.
As Discussed in Last Analysis With US CPI data coming better than expected another gap up open will be seen and price will be back to gann angle resistance zone of 17729-17743. Trend is firmly on Upside with just 5% from All time High we cannot say its a Bear Market Rally. We have been long and avioded any shorts in anticiapation, Always try to be Reactive trader rather than being a Predictive trader. For Swing Traders Bulls will get active above 17689 for a move towards 17755/17820/17886. Bears will get active below 17491 for a move towards 17425/17359. Nifty continue to rally and is near its gann angle resistance of 1×4 line as shown in below chart,Wil it be 3 time Lucky to cross and close above it or will see a dip before breaking it. We also have FULL MOON Tommrow so watch out for first 15 mins High and low to trade. For Swing Traders Bulls will get active above 17689 for a move towards 17755/17820/17886. Bears will get active below 17586 for a move towards 17519/17453/17386.
We have extened Weekend coming up as 15 Aug is trading Holiday,Use this time to Improve your Skill Set and Learn Something New in trading.
Intraday time for reversal can be at 9:15/11:23/12:33/1:14/2:07/2:59 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17550 PCR at 1.14 PCR below 0.87 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Maximum Call open interest of 13 lakh contracts was seen at 17800 strike, which will act as a crucial resistance level and Maximum PUT open interest of 15 lakh contracts was seen at 17500 strike, which will act as a crucial Support level
Nifty Aug Future Open Interest Volume is at 1.06 Cores with liqudiation of 1.4 Lakh with decrease in cost of carry suggesting Long positions were closed today.
Nifty rollover cost @ 16670 and Rollover @67.7 % Closed above the rollover level suggesting bias is Bullish
Its Basic Human Nature, Markets are up Traders want to Short Market are down traders want to Buy and this particular Emotions are exploited by Smart Money and Current Rally is classic Example,Many traders are losing on their shorts and market keep going up everyday.
FII’s bought 2298 cores and DII’s sold 729 cores in cash segment.INR closed at 79.63
#NIFTY50 READY for another 500 points move in next 4 trading session as per musical octave 16108-16573-17066 take the side and ride the move !! — 17559 done now waiting for 18067.